Thunderful considers sale of Headup Games

Just over two and a half years after acquiring Düren-based Headup Games, Swedish group Thunderful is considering the sale of the German publisher.

The Thunderful Group is currently investigating the possibility of selling Headup Games. The Swedish group briefly announced its plans. "The Headup team and its CEO, Dieter Schoeller, have made a great contribution to Thunderful since joining the group. However, in analysing Thunderful's core business and priorities, it has become clear that we need a clearer and more focused strategy. Therefore, we are now exploring the possibility of selling Headup," said Martin Walfisz, CEO of Thunderful Group. Management believes that the divestment could result in a partial write-off of goodwill and other intangible assets, which are currently recognised in the balance sheet at a value of approximately eleven million euros.

Headup Games, based in Düren, Germany, has been a subsidiary of Thunderful since March 2021. At that time, Thunderful put five million euros on the table, and depending on the company's performance (until 2023), the sum could rise to eleven million euros. In February 2023, the Thunderful Group acquired the German indie studio Fizbin, with offices in Ludwigsburg and Berlin, via Thunderful subsidiary Headup Games.